China AI Chip Leader Cambricon Sees Record Earnings Boost From DeepSeek

Cambricon Technologies Corp. swung to a record profit in the first half, reflecting a wave of demand for Chinese chips after Beijing encouraged the use of homegrown technology in a post-DeepSeek AI boom.

Shares in the Chinese AI chip designer, which competes with Huawei Technologies Co. to provide accelerators for developing and hosting AI models, climbed as much as 10% in Shanghai, spurring gains in prominent Chinese chip firms from Huawei-partner Semiconductor Manufacturing International Corp. to rival designer Rockchip Electronics Co. Cambricon’s stock briefly replaced liquor giant Kweichow Moutai Co. as the country’s most expensive onshore stock (in yuan terms.)